Scholar Rock Holding Co. (NASDAQ:SRRK) CFO Edward H. Myles Sells 12,539 Shares

by · The Cerbat Gem

Scholar Rock Holding Co. (NASDAQ:SRRK – Get Free Report) CFO Edward H. Myles sold 12,539 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $554,223.80. Following the transaction, the chief financial officer now directly owns 148,549 shares in the company, valued at approximately $6,565,865.80. This represents a 7.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Scholar Rock Stock Up 4.1 %

NASDAQ:SRRK traded up $1.75 during trading hours on Tuesday, reaching $44.88. The company’s stock had a trading volume of 1,004,933 shares, compared to its average volume of 1,009,194. The company has a market capitalization of $4.20 billion, a P/E ratio of -19.10 and a beta of 0.52. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. Scholar Rock Holding Co. has a 12 month low of $6.76 and a 12 month high of $46.19. The stock has a 50 day moving average price of $39.58 and a two-hundred day moving average price of $23.33.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SRRK shares. Truist Financial boosted their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Piper Sandler increased their price objective on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Wedbush reissued an “outperform” rating and set a $47.00 target price on shares of Scholar Rock in a research note on Thursday, January 9th. JPMorgan Chase & Co. upped their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, HC Wainwright lifted their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Scholar Rock has an average rating of “Buy” and a consensus target price of $40.43.

Check Out Our Latest Stock Report on Scholar Rock

Hedge Funds Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRRK. Mirae Asset Global Investments Co. Ltd. grew its stake in Scholar Rock by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after buying an additional 514 shares during the last quarter. GAMMA Investing LLC grew its position in Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after purchasing an additional 269 shares during the last quarter. Quarry LP increased its stake in Scholar Rock by 3,443.3% during the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after purchasing an additional 4,373 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Scholar Rock by 1,321.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,109 shares of the company’s stock worth $48,000 after buying an additional 1,031 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Scholar Rock during the second quarter worth $100,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

About Scholar Rock

(Get Free Report)

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery, development, and delivery of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, an inhibitor of the activation of myostatin that is in Phase 3 clinical trial for the treatment of spinal muscular atrophy; and SRK-181, which has completed Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.

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